Yanis Varoufakis: WasChancellorMerkelright (aboutGreece)? http://feedly.com/k/17yxObr ByYanisVaroufakis, a professorofeconomics at theUniversityofAthens. Crosspostedfromhisblog. IsChancellorMerkelrightwhensherecentlysaid: “Greeceshouldnothavebeenadmittedintotheeuroarea”? Naturally. However, the way that the euro was designed, it was not only Greece that stood no chance of surviving without a major social disaster within the Eurozone. The same applies to the rest of the Periphery and, also, to… France. In short, a common currency without a substantial surplus recycling mechanism … Seguir leyendo Yanis Varoufakis: Was Chancellor Merkel right (about Greece)?

India’s newcentralbankertofaceimpossiblechoices http://feedly.com/k/1dEPR44 India is about to get a new new central bank governor, Raghuram Rajan, a University of Chicago economist with outstanding academic credentials. He is expected to start this Thursday, smack in the middle of a financial crisis the likes of which have not been seen in India since the early 90s. He will be dealing with a no-win situation in which he … Seguir leyendo India’s new central banker to face impossible choices

Spain’s Ying-YangCharts http://feedly.com/k/18otrya While we understand Europe’s desperation to telegraph an improvement in its economy, driven by both GDP and such sentiment indicators as PMI data, very much as we saw in early 2011 before the carpet was pulled from beneath Europe and it promptly slid into a double dip, one thing that is unclear is why Europe continues to insist using Spain as the … Seguir leyendo Spain’s Ying-Yang Charts

India ScramblesForPlan D AsStocks, CurrencyResumeCollapse http://feedly.com/k/1dE0XGF After a modestly weak start, India’s FX and stock markets accelerated lower overnight in the currency’ssecondbiggestdailycollapsein 17 years, and stocks second biggest daily plunge in 2 years. Rubbing further salt into an already gaping wound of capital outflows, S&P re-iterated its downgrade threat overnight following India dismal PMI print and this appears to have pushed the Indian government to … Seguir leyendo India Scrambles For Plan D As Stocks, Currency Resume Collapse

Rapping WhyNationsFailinQuibdó (withAlexisPlay) http://feedly.com/k/1dE0GmU Paula Moreno, director of Manos Visibles, who we mentioned in ourpreviouspost, used to be the Colombian Minister of Culture so she knows about a lot more than just the economy. Part of her agenda is to promote the amazingly rich cultural and artistic life of the Chocó (not just raise GDP per capita). So she sprung a surprise at the conference. … Seguir leyendo Rapping Why Nations Fail in Quibdó (with Alexis Play)

Tokumaru onMises’sEpistemology http://socialdemocracy21stcentury.blogspot.com/2013/09/tokumaru–on–misess–epistemology.html N. Tokumaru’s paper “Popper’s Analysis of the Problems of Induction and Demarcation and Mises’ Justification of the Theoretical Social Sciences” examines Mises’s fundamental claims about epistemology and economic methodology, and finds them wanting. Tokumaru first notes that, with respect to the natural sciences, Mises endorses what Popper called “naïve inductivism” with undefended assumptions of the uniformity of nature; that Mises also holds … Seguir leyendo Tokumaru on Mises’s Epistemology

Portugal CDSspreadwidensagain http://feedly.com/k/14nHBx4 The date is set for the troika inspectors to pay a visit to Portugal. CBSNews: – Portugal’s Finance Ministry says inspectors from the country’s bailout creditors will arrive Sept. 16 to assess Portugal’s progress on repairing its public finances and adopting economic reforms. In return for a 78 billion euros rescue package in 2011, the creditors — the International Monetary Fund, European … Seguir leyendo Portugal CDS spread widens again

Finlandia: Nokiatraspasalosmóviles a Microsoft http://feedly.com/k/1dE06pe El fabricante de equipos de telecomunicación Nokia, la joya de la corona de la industria finlandesa, anunció el 2 de septiembre que vende sus actividades de telefonía móvil y las patentes relativas al sector al gigante americano de software Microsoft por 5.440 millones de euros. La filial de móviles Nokia tendrá que cerrar durante el primer trimestre de 2014, según … Seguir leyendo Finlandia: Nokia traspasa los móviles a Microsoft

ISM ManufacturingindexincreasesinAugustto 55.7 http://feedly.com/k/18ACgnp The ISM manufacturing index indicated faster expansion in August. The PMI was at 55.7% in August, up from 55.4% in July. The employment index was at 53.3%, down from 54.4%, and the new orders index was at 63.2%, up from 58.3% in July. From the Institute for Supply Management: August 2013 ManufacturingISMReportOnBusiness® Economic activity in the manufacturing sector expanded in August … Seguir leyendo ISM Manufacturing index increases in August to 55.7

Para la orientación que pretendo darle a este blog, creo que es bueno que vayamos aclarando conceptos que luego nos servirán de punto de unión en el relato sobre la crisis que iremos elaborando. Por eso repito algunos conceptos que ya había tratado en otra ocasión. Al fin y al cabo, la batalla de las ideas siempre se empiezan a ganar en esa deliimitación previa. Hay también un segundo motivo. La mayoría de … Seguir leyendo Definiciones clásicas